UBS Group Upgrades Kardigan (NASDAQ:KARD) to “Strong-Buy”

Kardigan (NASDAQ:KARD) was upgraded by equities research analysts at UBS Group to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Several other equities research analysts also recently commented on the company. Leerink Partners started coverage on Kardigan in a report on Monday, July 13th. They set an “outperform” rating and a $37.00 price objective for the company. Jefferies Financial Group initiated coverage on Kardigan in a report on Monday, July 13th. They issued a “buy” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Kardigan from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 25th. Zacks Research raised shares of Kardigan to a “hold” rating in a research report on Wednesday, July 15th. Finally, TD Cowen initiated coverage on shares of Kardigan in a research note on Monday, July 13th. They set a “buy” rating and a $46.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

Kardigan Stock Performance

Shares of KARD opened at $12.97 on Monday. Kardigan has a one year low of $12.23 and a one year high of $27.00. The firm has a market cap of $1.21 billion and a P/E ratio of -4.50. The company has a 50-day moving average price of $18.31.

Kardigan (NASDAQ:KARD) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($4.61) earnings per share for the quarter. Equities research analysts predict that Kardigan will post -3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kardigan

Large investors have recently added to or reduced their stakes in the business. Jupiter Topco LLC bought a new stake in Kardigan during the 2nd quarter worth approximately $17,715,000. Montanova Capital LLC purchased a new stake in shares of Kardigan in the second quarter worth approximately $9,540,000. Bank of New York Mellon Corp bought a new position in shares of Kardigan in the second quarter valued at approximately $9,010,000. Braidwell LP bought a new position in shares of Kardigan in the second quarter valued at approximately $7,155,000. Finally, Citadel Advisors LLC bought a new position in shares of Kardigan in the second quarter valued at approximately $2,862,000.

About Kardigan